(Bloomberg) -- President Donald Trump is painting a picture of U.S. economic growth that's well beyond even the rosiest of forecasts: 6 percent.
Trump said Wednesday that high consumer confidence, solid job creation and tax cuts could push the expansion to levels not seen in 14 years. “I see no reason why we don't go to 4, 5, even 6 percent,” he told cabinet members, echoing similar comments he's made since he began his presidential campaign in 2015.
Exactly where the workers or the productivity gains are going to come from to provide such a boost is unclear. Trump's ambitions on gross domestic product make him an outlier among outliers.
In Bloomberg's latest survey of economists, only one of 80 forecasters is even close to Trump's greater-than-4 percent GDP ambition. The median forecast for growth next year is 2.5 percent, the survey showed.
And fiscal stimulus unleashed by tax cuts is seen boosting GDP by only about 0.8 percent over the next 10 years, according to a report released late last month by the Joint Committee on Taxation, Congress's nonpartisan scorekeeper. That's a far cry from what's needed to meet Trump's ambitions.
--With assistance from Catarina Saraiva
To contact the reporters on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net, Justin Sink in Washington at jsink1@bloomberg.net.
To contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Randall Woods, Scott Lanman
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